Federated Hermes Inc. Sells 37,244 Shares of Tenet Healthcare Co. (NYSE:THC)

Federated Hermes Inc. decreased its holdings in shares of Tenet Healthcare Co. (NYSE:THC) by 25.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 111,081 shares of the company’s stock after selling 37,244 shares during the quarter. Federated Hermes Inc. owned 0.11% of Tenet Healthcare worth $8,394,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of Tenet Healthcare by 0.6% during the third quarter. Vanguard Group Inc. now owns 10,937,483 shares of the company’s stock valued at $720,671,000 after buying an additional 63,253 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Tenet Healthcare by 2.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,026,724 shares of the company’s stock worth $67,651,000 after buying an additional 26,613 shares during the period. Jacobs Levy Equity Management Inc. lifted its holdings in Tenet Healthcare by 3.3% during the third quarter. Jacobs Levy Equity Management Inc. now owns 786,852 shares of the company’s stock worth $51,846,000 after buying an additional 25,077 shares during the period. BW Gestao de Investimentos Ltda. lifted its holdings in Tenet Healthcare by 288.4% during the third quarter. BW Gestao de Investimentos Ltda. now owns 468,871 shares of the company’s stock worth $30,894,000 after buying an additional 348,151 shares during the period. Finally, Loomis Sayles & Co. L P lifted its holdings in Tenet Healthcare by 5.0% during the third quarter. Loomis Sayles & Co. L P now owns 447,145 shares of the company’s stock worth $29,462,000 after buying an additional 21,237 shares during the period. Institutional investors own 95.44% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Royal Bank of Canada upped their target price on Tenet Healthcare from $97.00 to $109.00 and gave the stock an “outperform” rating in a report on Friday, February 9th. Deutsche Bank Aktiengesellschaft upped their price target on Tenet Healthcare from $100.00 to $126.00 and gave the stock a “buy” rating in a research report on Friday, April 12th. Wells Fargo & Company upped their price target on Tenet Healthcare from $105.00 to $115.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. TheStreet raised Tenet Healthcare from a “c+” rating to a “b-” rating in a research report on Tuesday, February 6th. Finally, Wolfe Research raised Tenet Healthcare from a “peer perform” rating to an “outperform” rating and set a $122.00 price target on the stock in a research report on Wednesday, March 27th. One equities research analyst has rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $100.38.

Insider Transactions at Tenet Healthcare

In other news, Director Richard J. Mark sold 14,000 shares of the stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $98.98, for a total transaction of $1,385,720.00. Following the sale, the director now directly owns 33,303 shares of the company’s stock, valued at approximately $3,296,330.94. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, EVP Paola M. Arbour sold 18,168 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $96.96, for a total value of $1,761,569.28. Following the transaction, the executive vice president now directly owns 29,803 shares of the company’s stock, valued at approximately $2,889,698.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Richard J. Mark sold 14,000 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $98.98, for a total transaction of $1,385,720.00. Following the completion of the transaction, the director now directly owns 33,303 shares in the company, valued at $3,296,330.94. The disclosure for this sale can be found here. Insiders have sold a total of 51,268 shares of company stock valued at $4,944,810 in the last ninety days. 0.93% of the stock is currently owned by corporate insiders.

Tenet Healthcare Price Performance

Shares of THC opened at $98.27 on Thursday. The business’s 50-day moving average is $97.96 and its two-hundred day moving average is $80.05. The company has a market capitalization of $9.75 billion, a P/E ratio of 17.21, a P/E/G ratio of 3.13 and a beta of 2.08. The company has a debt-to-equity ratio of 4.77, a quick ratio of 1.42 and a current ratio of 1.51. Tenet Healthcare Co. has a fifty-two week low of $51.04 and a fifty-two week high of $107.80.

Tenet Healthcare (NYSE:THC) last announced its quarterly earnings results on Thursday, February 8th. The company reported $2.68 earnings per share for the quarter, topping the consensus estimate of $1.58 by $1.10. Tenet Healthcare had a return on equity of 26.34% and a net margin of 2.97%. The company had revenue of $5.38 billion for the quarter, compared to the consensus estimate of $5.28 billion. During the same period last year, the firm earned $1.96 EPS. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. Research analysts predict that Tenet Healthcare Co. will post 6.3 earnings per share for the current year.

Tenet Healthcare Profile

Tenet Healthcare Corporation operates as a diversified healthcare services company in the United States. The company operates through two segments: Hospital Operations and Services, and Ambulatory Care. Its general hospitals offer acute care services, operating and recovery rooms, radiology and respiratory therapy services, clinical laboratories, and pharmacies.